IFCI gets favourable verdict in sale of assets of Blue Coast Hotels to ITC

IFCI gets favourable verdict in sale of assets of Blue Coast Hotels to ITC. In an interview with CNBC-TV18, V Satya Venkat Rao, Executive Director of IFCI spoke about the latest happenings in his company and sector.

This judgement from Supreme Court (SC) is quite a trend setter, he said.

With this judgement now the creditors can definitely have a complete say in the matter of conducting sales, he added.

Speaking about non-performing assets (NPAs), he said that recovery of NPAs is a continuous process in IFCI. We have put all our efforts and energy in the right direction and have come out with a slew of measures, said Rao.